Formal IRS Installment Agreement

The IRS will, and does, grant affordable monthly Installment Agreements to taxpayers. Any taxpayer can contact the IRS directly to setup an Installment Agreement, but our qualified tax professionals can successfully arrange a payment plan to fit comfortably within your budget by utilizing our experience and expertise.

REAL ESTATE LENDING

OMNI TAX HELP has presented hundreds of loans to an evolving list of prime and sub-prime lenders. If you have equity in real estate, the IRS will expect you to seek financing.

INNOCENT SPOUSE

You can be relieved of responsibility for paying tax, interest, and penalties if your spouse (or former spouse) improperly reported items or omitted items on your tax return. You must meet all the required conditions to qualify for Innocent Spouse relief.

IRS Penalty Abatement Due to Reasonable Cause Criteria

(Internal Revenue Code Section 20.1.1.3) As the name implies, penalties can be abated if you have “reasonable cause” for late filing and nonpayment of taxes. During the Fiscal Year of 2016, the IRS abated 33% of all penalties assessed. There are seven “reasonable cause” categories for abatement. Contact us to speak with a Tax Professional to determine if you fall within the categories.

OFFER IN COMPROMISE

This is an IRS devised program whereby the IRS will often settle tax liability for less than the full amount owed. During the Fiscal Year of 2016, the IRS accepted 43% of all Offer in Compromise submitted. It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship. The IRS considers your unique set of facts and circumstances:

• Ability to pay
• Income
• Expenses
• Asset equity

The IRS approves an Offer in Compromise when the amount offered represents the most the IRS can expect to collect within a reasonable period of time.